Major payments gateway Stripe has raised another round of funding, receiving $150 million.

That brings its valuation to $9.2 billion, accordingto Tech Crunch. Although Stripe is mainly known for its payment services, it has been adding new offerings to stay competitive in the rapidly evolving payments ecosystem.

This funding round will likely give Stripe even more opportunity to offer a robust payment service, including added security and convenience for merchants.

Security: Stripe recently announced the launch of Radar, a new API-based fraud protection tool for its merchant clients. The service could be very attractive to small merchants who may find standard fraud prevention tools too expensive or inconvenient — 60% don’t currently use one, according to MasterCard. The service will help merchants seamlessly alleviate security concerns, while potentially saving Stripe from any revenue loses as a result of fraudulent or declined transactions.

Convenience: Stripe also announced Works With Stripe, a new directory that will make it easier for the company’s merchants to use third-party apps. This directory will allow merchants to seamlessly integrate services they may already be using with Stripe’s platform. Merchants will be able to consolidate their operations, which leads to a much more efficiently run business, thus making Stripe a much more attractive option.

These added offerings could make Stripe more appealing for merchants, which could help the payments gateway grab a larger market share. Stripe already counts SAP, Macy’s, and GE as partners. However, with these new initiatives it could increasingly attract a different clientele. Small business merchants will likely be attracted to Stripe's fraud prevention and new app directory as they hope to stay competitive in the ever changing commerce market.

These merchants can now integrate the services they’re already using into Stripe’s platform, while at the same time having a more secure business. That could lead to improved performance in the form of higher sales or increased transactions, which would lead to transaction revenue gains for Stripe.

Stripe is just one piece of the larger payments ecosystem, which has grown to include merchants, issuers, processors, acquirers, and more.

Evan Bakker and John Heggestuen, analysts at BI Intelligence, Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.

Here are some key takeaways from the report:

2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.

Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.

Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.

In full, the report:

Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.

Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.

Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.

Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.

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